Columbia Bancorp Declares $0.09 Quarterly Cash Dividend.THE DALLES dalles pl.n. The rapids of a river that runs between the steep precipices of a gorge or narrow valley. [French, pl. of dalle, gutter, from Old French, from Old Norse dæla.] , Ore -- Columbia Bancorp (Nasdaq:CBBO) today announced its Board of Directors has declared a $0.09 per share cash dividend. The quarterly dividend is payable July 30, 2004, to shareholders of record July 15, 2004. "Cash dividends are a great way for us to reward our shareholders," said Roger Christensen, President and Chief Executive Officer. "Based on CBBO's recent closing price on June 24, 2004, our annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. dividend yield is 2.53%." On April 28, 2004, Columbia reported first quarter net income was $2.0 million, or $0.22 per diluted share. Revenue for the first quarter increased to $9.7 million, compared to $9.6 million in the like quarter a year ago. Assets grew 5% to $598.3 million, deposits increased 4% to $504.2 million and gross loans, excluding loans held for sale, grew 13% to $489.2 million from year ago levels. Columbia Bancorp (www.columbiabancorp.com) is the financial holding company for Columbia River Columbia River River, southwestern Canada and northwestern U.S. Rising in the Canadian Rockies, it flows through Washington state, entering the Pacific Ocean at Astoria, Ore.; it has a total length of 1,240 mi (2,000 km). Bank, which operates 19 branches located in The Dalles (2), Hood River The Hood River is a tributary of the Columbia River in northwestern Oregon in the United States. Approximately 25 mi (40 km) long from its mouth to its farthest headwaters on the East Fork, the river descends from wilderness areas in the Cascade Range on Mount Hood and flows , Bend (3), Madras, Redmond (2), Pendleton, Hermiston, McMinnville (3), Canby and Newberg, Oregon, and in Goldendale, White Salmon and Kennewick, Washington. Columbia River Bank also provides mortgage-lending services through Columbia River Bank Mortgage Team and brokerage services through CRB CRB See: Commodity Research Bureau. Financial Services Team. |
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